About Cannabis Testing Services
Cannabis is a drug that comes from Indian hemp plants including Cannabis sativa and Cannabis indica. Cannabis lab testing is an integral part of the legal landscape surrounding cannabis. These drugs are required to undergo a series of tests by a state-accredited lab. These tests help ensure that products are safe to consume and easy to dose. Cannabis is applied to multiple consumer goods such as carbonated beverages, coffee, alcohol, tobacco, and other packaged goods. The cultivation, production, and manufacturing of Cannabis products for medicinal use in South Africa. South Africa minimizes the risk of diversion of Cannabis and reserves its use for medical and scientific purposes only with the help of the International Narcotics Drug Control Board.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Cannabis Testing Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Agilent Technologies, Inc. (United States), Shimadzu Corporation (Japan),, PerkinElmer, Inc. (United States), Millipore Sigma (United States), AB SCIEX LLC (United States), Waters Corporation (United States), Restek Corporation (United States), Accelerated Technology Laboratories, Inc.(United States), LabLynx, Inc.(United States) and While, Steep Hill Labs, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are SC Laboratories Inc. (United States), CannaSafe Analytics (United States), PharmLabs, LLC (United States) and Digipath Labs, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Cannabis Testing Services market by Type (Potency Testing, Terpene Profiling, Heavy Metal Testing, Pesticide Screening and Microscopy Testing/Residual Solvent Screening), Application (Laboratories, Research Institutes, Drug Manufacturers & Dispensaries and Cultivators) and Region.
On the basis of geography, the market of Cannabis Testing Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. Personal Care & Cosmetics will boost the Cannabis Testing Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Hemp will boost the Cannabis Testing Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing adoption of LIMS in cannabis testing laboratories
Market Growth Drivers:
Legalization of medical cannabis coupled with the growing number of cannabis testing laboratories and Increasing awareness through conferences, symposia, and workshops
Challenges:
High start-up cost for cannabis testing laboratories and Lack of industry standards for cannabis testing
Restraints:
High cost of analytical instruments and Dearth of trained laboratory professionals
Opportunities:
Emerging markets in LATAM and MEA and Growing merger & acquisitions activities
Market Leaders and their expansionary development strategies
In November 2023, Metrc teams up with ACT Laboratories for integration of microbial testing results into seed-to-sale tracking systems. This collaboration enhances compliance and transparency by ensuring microbial safety data is readily available to regulators and consumers.
In September 2023, MCR Labs launches "Cannabis Chemotyping App" - a mobile app providing on-site cannabinoid and terpene analysis via handheld spectrometers. This caters to cultivators and processors seeking real-time data for informed decision-making.
Key Target Audience
Cannabis associations, Cannabis testing laboratories, Analytical instrument manufacturers, Cannabis software/LIMS vendors, Academic institutes and universities, Venture capitalists and Research and consulting firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.